Scam – Read the Fine Print

MerchantProcessingNMScams Against MerchantsLeave a Comment

I recently spoke with a non-profit who closed one of their entities. They went to close their merchant services account at their bank, and lo and behold, they found out that the contract they had signed stated they would be responsible for paying the average surcharge fees the bank had been collecting from their merchant services until the end of the contract, even though they were not processing anymore! They certainly didn’t understand that stipulation at the beginning of their agreement.